"Abrusci will be part of Hutchins's team. Hutchins, who also serves as president, assumed the interim CEO role in March following the departure of Diana Reid, who had joined in September 2024 to succeed Michael DeVito after his retirement. In a filing with the Securities and Exchange Commission (SEC), Freddie Mac said Hutchins had agreed to extend his tenure in the dual role of President and Interim Chief Executive Officer through the earlier of the appointment of a permanent CEO or December 19, 2025."
"A longtime financial services executive, Hutchins co-founded PrinceRidge and previously held senior roles at UBS. The extension comes amid significant leadership upheaval at the government-sponsored enterprises (GSEs) under the Trump administration, which is pushing toward a potential stock offering and preparing the firms for a possible exit from conservatorship. In March, Freddie Mac's CEO, chief operating officer and head of HR were ousted, along with the COO and head of HR at Freddie's regulator, the Federal Housing Finance Agency (FHFA)."
Abrusci will join Hutchins's team at Freddie Mac. Hutchins, who also serves as president, became interim CEO in March after Diana Reid's departure; Reid had joined in September 2024 to succeed Michael DeVito following his retirement. An SEC filing states Hutchins agreed to extend his dual role as President and Interim Chief Executive Officer until a permanent CEO is appointed or December 19, 2025. Hutchins co-founded PrinceRidge and previously held senior roles at UBS. The extension occurs amid broad leadership upheaval at the government-sponsored enterprises as the administration pushes toward a potential stock offering and prepares for a possible exit from conservatorship, while the FHFA has taken sweeping personnel and governance actions.
Read at www.housingwire.com
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